THE TERM OF THE LEASE. 5.1 The original term of the lease according to this contract shall commence on August 23, 2020 and the date of expiration of the original lease is after the lapse of 36 months on August 22, 2023 (the “Original Term of the Lease”).
5.2 The Tenant is given the option to extend the Original Term of the Lease by two option periods of two years each with regard to the Leased Premises (the “Option Periods”). The Tenant shall give notice of its intention to exercise the Option Periods up to 90 days before the date of commencement of the option period. The rent for the first option period shall increase by 10% over and above the rent in the Original Term of the Lease. The Tenant has a first option to extend the term of the lease by two more years until August 22, 2025 and a second option period to extend the term of the lease by two more years until August 22, 2027. The amount of the rent for the second option period shall be determined in a meeting between the parties up to 90 days before the date of renewal of the option according to the accepted standard of prices at such time. A condition to the exercise of the option shall be that the Tenant shall have fulfilled all of the material terms and conditions of this contract during the Original Term of the Lease in a full and timely manner.
5.3 The provisions of Section 5.2 of this agreement notwithstanding, the Landlord reserves the right to refuse the exercise of the options by the Tenant solely if it is required to remove all of the tenants of the Building for the purpose of demolishing it and constructing a new building in its stead, provided that the same shall not prejudice the first term of the lease and/or on reasonable grounds which shall be specified in writing, and a written notice as aforesaid regarding the need to vacate shall be delivered to the Tenant at least 6 months in advance before the vacation date.
5.4 It is agreed that the Tenant shall bear any and all payments that apply thereto pursuant to this contract for the term of the lease, whether or not it shall have actually held and/or used the Leased Premises, provided that there is no impediment to making reasonable use of the Leased Premises in accordance with the purpose of the lease.
5.5 The parties’ undertaking under this section is a material undertaking whose breach shall constitute a fundamental breach of the contract. [Initials] [Initials]
THE TERM OF THE LEASE. (a) Notwithstanding the provisions of the Agreement, the term of the lease of Omrix shall terminate on 31.12.
THE TERM OF THE LEASE. II.1 The lease is entered into for a term determined by the parties, which term will begin on the agreed date and ends on the agreed date. The leased space must be transferred in a good state.
II.2 In case of premature notice of termination of the leased space within the agreed term of the lease, the rent for the entire agreed term of the lease continues to be due, unless the parties agreed otherwise.
II.3 If the lessee does not begin to use the leased space on the agreed date for any reason whatsoever, the rent will nevertheless be due with respect to the entire agreed period and the leased space will be kept available at the lessee's expense and risk. If the lessee does not immediately begin using the leased space after a demand to that effect, the space is at the free disposal of the lessor, whereas the agreed rent continues to be due in full.
II.4 The lessor reserves the right not to extend the agreed term of the lease after it has expired.
II.5 If the lease agreement has been concluded for an indefinite period, the lease agreement ends by written notice of termination from one of the parties to the other contracting party, with the due observance of a period of notice of 1 week.
THE TERM OF THE LEASE is hereby extended so that the expiration date of the Lease shall be December 31, 2007 (the “Extension Period”).
THE TERM OF THE LEASE. The term of the Lease shall be TEN years, commencing from June 10th 1997 to June 9th, 2007.
THE TERM OF THE LEASE. A. The term of the Lease shall be six years, commencing from March 20th, 2003 to March 19th, 2009.
B. The Lease may be renewed by Party B giving a notice in writing to Party A at least three months prior to the expiration of the term hereof, and such renewal, if any, shall be subject to the rental and other conditions as negotiated by both Parties. A new lease shall be contracted otherwise by the Parties.
C. In the event that Party A shall not consent to the renewal of lease after receiving a written notice by Party B requesting for such renewal, Party A shall reply to Party B in writing thereupon. In such case, Article 451 of the R.O.
THE TERM OF THE LEASE. The term of the Lease shall be five years, commencing from June 15th, 2002 to June 14th, 2007. Upon the expiration of this Lease, Party B shall take priority of leasing the Premises. Prior to the expiration of the Lease term, both Parties shall give the written notices at lease six months in advance for the issues of either negotiating the lease renewal or terminating the lease before expiration of the Lease
THE TERM OF THE LEASE. Supplement No. 1 commenced with --------------- respect to the Parcel on March 27, 1996 and shall expire on March ____, 2003, unless extended by Landlord and Tenant to March _____, 2005, pursuant to the terms of the Amended and Restated Master Lease.
THE TERM OF THE LEASE. The term of the lease is for a total of 6 years from July 1, 2008 to June 30, 2016. The lessee shall undertake procedures for the renewal of the lease contract if the lessee needs to extend the term for the use of the land. The lease renewal shall be completed two month in advance from the expiration date of the lease. Failure to execute the contract for renewal shall be considered forfeiture of the extension of the term for the use of the land.
THE TERM OF THE LEASE. The term of the Lease shall be THREE years, commencing from November 1st 2002 to October 31st, 2005.
